How To Choose The Right Retirement Plan?

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    David RacichPRO
    Fountain Hills, Arizona
    First consideration is whether the plan should be qualified or non-qualified. If your tax bracket is high and/or your employer matches some of your contributions, a qualified plan should be considered. If your tax bracket is low and your employment doesn't offer a match then non-qualified plan should be considered. Once you establish whether the plan should be qualified or non-qualified, then funding your retirement with the proper product is next. To do this you need to establish a personal financial profile that includes a risk tolerance assessment, your financial goals and a life expectancy review.
      
    Answered on June 29, 2013
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    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Choosing the correct retirement plan is frequently a case of choosing the right adviser.  If you don’t have a financial adviser or insurance agent familiar with this topic, seek recommendations from colleagues and friends.  The most important thing is to determine your objectives and then the timeline necessary to meet your objectives.  The adviser can assist in suggesting possible tax plans and accumulation vehicles to enable you to meet those objectives.  The annual review is essential in the process as the best laid plans of mice and men, often go awry and your financial plan is the same.  It needs consistent attention.
    Answered on May 30, 2014
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